Jul. 25, 2012 (China Knowledge) - Chongqing
Agricultural Investment Group Co said that it will issue RMB 500 million in unsecured bills with a maturity of 365 days on the interbank market on Jul. 27, sources reported.
The company said that the bills will be issued at the face value, and the coupon rate will be determined in the process of book-building.
Both value date and payment due date will be on Jul. 30, and the to-be-issued bills are tradable on Jul. 31.
China Chengxin International Credit Rating Co Ltd has rated the issuer and bills AA- and A-1, respectively.
Proceeds from the deal will be used to replenish the group's working capital and repay bank loans.
Industrial Bank Co Ltd<601166
> has been assigned as book-runner and lead underwriter for the offering.
This will be the first short-term bills issued by the company this year.